ECB Consumer Expectations Survey Shows Slight Increase in Inflation Expectations

The European Central Bank (ECB) has released the results of its Consumer Expectations Survey for August 2026.

Median consumer perceptions of inflation over the past 12 months remained unchanged at 3.5%, while median expectations for inflation increased across all horizons, to 3.0% for the next 12 months, 2.9% for three years ahead, and 2.5% for five years ahead.

The survey also found that consumers' expectations for nominal income growth over the next 12 months were unchanged at 1.0%, with those in the bottom income quintile expecting higher growth than those in the top quintile.